[DK Goel] Q. 11, 12 Issue of Debentures Solutions Class 12 CBSE (2026-27)
Here are the solution of question number 11 and 12 of Issue of debentures chapter 7 of DK Goel Class 12 CBSE (2026-27).
Q. 11. On 1st April, 2023, Simple Ltd. took over assets of ₹ 5,00,000 and liabilities of ₹ 1,00,000 from Temur Ltd. at an agreed value of ₹ 16,00,000. Simple Ltd. paid the amount to Temur Ltd. as follows:
(i) Issued a bank draft of ₹ 1,00,000.
(ii) Issued 8% Debentures of ₹ 100 each at a premium of 50% in satisfaction of the balance amount of purchase consideration.
Pass the necessary journal entries in the books of Simple Ltd. to record the above transactions.
[C.B.S.E. 2024. Comptt.)
[Ans. Goodwill ₹ 12,00,000; Number of Debentures issued 10,000.]
Solution:-
Q. 12. A Company purchased Assets of the book value of ₹ 12,00,000 and Liabilities of ₹ 2,20,000 of another Company for a purchase consideration of ₹ 9,40,000. The purchase consideration was discharged by the issue of debentures of ₹ 500 each at a discount of 6%. Pass journal entries in the books of purchasing company. Company writes off all capital losses in the first year itself.
[Ans. Capital Reserve ₹ 40,000; Debentures issued : 2,000 Debentures of ₹ 500 each. Discount on issue ₹ 60,000; It will be written off from Statement of Profit & Loss.]
Solution:-
